Saudi news

Saudi Arabia closes the December offering of sukuk with 4.7 billion riyals

The National Center for Debt Management, affiliated to the Saudi Ministry of Finance, has announced the completion of receiving investor requests for the local issuance for the month of December 2022 within the Kingdom’s government sukuk program in Saudi riyals.

The center stated that the total volume of subscription applications amounted to about 11.082 billion riyals, while the total volume of allocation was set at 4.699 billion riyals.

According to the statement issued by the center, the issuance was divided into two tranches, the volume of the first amounted to 4.094 billion riyals for sukuk maturing in 2032, while the second tranche amounted to 605 million riyals for sukuk maturing in 2037.

This issuance comes as confirmation of the statement issued by the National Center for Debt Management at the end of May of this year, that it continues – in accordance with the approved annual borrowing plan – to consider the possibility of entering into additional financing operations proactively through available financing channels, whether locally or internationally, and according to market conditions. ; This is to enhance the Kingdom’s presence in the debt markets and manage principal dues for the coming years, taking into account the movement of markets and risk management in the government debt portfolio.

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